|Bid||23.34 x 900|
|Ask||23.35 x 900|
|Day's Range||22.82 - 23.37|
|52 Week Range||20.82 - 48.75|
|Beta (3Y Monthly)||1.53|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 17, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||30.09|
On Wednesday, Alcoa is scheduled to release its second-quarter earnings after the markets close. So far, 2019 hasn't been a good year for Alcoa investors.
Alcoa (AA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that it has signed a conditional share purchase agreement with private equity investment firm PARTER Capital Group AG, based in Schindellegi, Switzerland, to acquire the Alcoa Avilés and La Coruña aluminum plants in Spain. Alcoa has reached an agreement with the workers’ representatives relating to a transaction between the Company and PARTER Capital Group AG. Alcoa reached an agreement in January 2019 with the workers’ representatives at the two aluminum plants as part of the collective dismissal process announced in October 2018.
The Pittsburgh aluminum major and its workers' representatives reached an accord regarding the deal with a Swiss private-equity firm.
We recently identified seven iconic U.S. companies that, at one point, fell on hard times. But these stocks have proved in 2019 that they are far from extinct, handily beating the Dow Jones Industrial Average.
(Bloomberg) -- An 18-month labor dispute at an aluminum smelter in Quebec controlled by Alcoa Corp. ended after workers accepted a deal, defying the recommendation of their union’s leadership.On Tuesday, about 80% of workers at the Aluminerie de Bécancour Inc. voted to ratify the offer after a meeting of the United Steelworkers in Trois-Rivieres, Quebec, the union said. Alcoa said in a statement that the restart will begin on July 26, and is expected to be complete in the second quarter of 2020.The deal, which covers everything from pension financing to the use of subcontractors, follows months of failed attempts to revive negotiations after more than 1,000 union workers were locked out in January 2018. Last week, Alcoa threatened to idle the entire facility if workers don’t sign what it called a "final offer."The lengthy labor conflict signals the struggle of workers to push for their demands in a market that has seen aluminum prices tumble 15% in the past year. A strike at top copper producer Codelco’s Chuquicamata mine lasted only two weeks, with employees getting three of their four demands.“After 18 months, we’d gotten to a place where the fight was unequal," said Clement Masse, the head of the United Steelworkers union ABI chapter, who is stepping down after members didn’t follow his recommendation. “We could feel our members were getting exhausted, which can explain the vote’s outcome.”Alcoa shares fell 0.9% to $23.10 in pre-market trading in New York Wednesday, after rising 1.7% when the union vote was announced.In the second half of this year, Pittsburgh-based Alcoa expects to record special items associated with restart expenses of $40 million to $50 million after tax, or 22 cents to 27 cents a share.ABI, as the facility is known, curtailed production to about a sixth of its capacity of 413,000 metric tons a year during the period, Bloomberg Intelligence estimates. For context, Alcoa has forecast that its global aluminum shipments will hit a range of 2.8 million to 2.9 million metric tons this year.The resolution is a good development for Alcoa and to a lesser extent Rio Tinto Group, which owns 25% of the facility, because it will be adding more aluminum production, according to Andrew Cosgrove, an analyst for Bloomberg Intelligence. But it’s not great for a global aluminum market already “drowning in supply,” he said.Alcoa has said the package they offered would provide more funding to the pension, reduce subcontracting and allocate more paid hours for union business than the last offer, which was rejected in March. Contentious points also included workers’ career path and priority access to employees when coveted positions open up.“We are pleased that ABI has a new labor agreement that will get employees back on the job, working together to improve the smelter for the long term,” Alcoa said in an emailed statement. “We will soon discuss the next steps with ABI’s employees.”(Updates shares in sixth paragraph.)\--With assistance from Laura Millan Lombrana.To contact the reporters on this story: Sandrine Rastello in Montreal at firstname.lastname@example.org;Matt Townsend in New York at email@example.comTo contact the editors responsible for this story: Crayton Harrison at firstname.lastname@example.org, Luzi Ann Javier, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Production at the Canadian smelter will ramp up this month after Alcoa and the United Steelworkers union reached a six-year contract.
An 18-month lock out between the company and workers at the Aluminerie de Bécancour Inc smelter ended on Tuesday as about 80% of the workers voted to ratify the latest contract, according to the United Steelworkers union. Alcoa said it expects the smelter, which has an annual capacity of 413,000 metric tons per year, to restart on July 26.
Aluminum producer Alcoa Corp said on Tuesday it expects to incur a charge of between $40 million and $50 million in the second half of 2019, related to restarting operations at its Canadian smelter in Becancour, Quebec. An 18-month lock out between the company and workers at the Aluminerie de Bécancour Inc smelter ended on Tuesday as about 80% of the workers voted to ratify the latest contract, according to the United Steelworkers union. Alcoa said it expects the smelter, which has an annual capacity of 413,000 metric tons per year, to restart on July 26.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, announced that the Aluminerie de Bécancour Inc. (ABI) smelter plans to restart curtailed smelting capacity after members of the United Steelworkers union in Québec, Canada today approved a six-year labor agreement. The smelter, owned by Alcoa (74.95%) and Rio Tinto Alcan Inc. (25.05%), has total annual capacity of 413,000 metric tons per year. Salaried employees had operated one of three potlines during the lockout, until Alcoa announced an additional curtailment of one half of that potline on December 19, 2018.
Alcoa (AA) had a nice run in June with an upwards price action of 10.5%. The entire metals and mining sector rallied last month.
(Bloomberg) -- After 18 months of often contentious labor talks with the United Steelworkers union at an aluminum smelter in Quebec, Alcoa Corp. has threatened to idle the entire facility if workers don’t sign what it’s calling a “final offer.”Aluminerie de Bécancour, a joint venture in which Alcoa controls a 75% stake and Rio Tinto Group owns the rest, made a proposal that expires on July 5. If it’s not signed, the already-curtailed production will be totally suspended, Pittsburgh-based Alcoa said Wednesday in a statement.Union workers were locked out of the facility in January 2018, and some operations continued to be run by managers. At full capacity, the plant known as ABI could produce 413,000 metric tons of aluminum a year, but that had been cut back to about a sixth of that, according to Bloomberg Intelligence. For context, Alcoa has forecast that its global aluminum shipments will hit a range of 2.8 million to 2.9 million metric tons this year.If a deal is reached, the company estimates the plant would be fully operational within 10 months.“We’ve reached a critical juncture in this process,” Jean-Francois Cyr, president of Alcoa Canada, said in an emailed ABI statement. “We want to resolve the conflict for the benefit of all parties and work together to restart our smelter and get everyone back to work.”ABI said its new proposal would provide more funding to the pension, reduce subcontracting and allocate more paid hours for union business than the last offer, which was rejected in March. It said in addition, “the offer allows everyone on lockout to return to work with annual wage increases that total 15.3% over the six-year contract.”A spokesman for the United Steelworkers didn’t immediately respond to a request for comment.\--With assistance from Joe Deaux.To contact the reporter on this story: Matt Townsend in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Alcoa Corporation plans to announce its second quarter 2019 financial results on Wednesday, July 17, 2019 after the close of trading on the New York Stock Exchange.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that the management of the Aluminerie de Bécancour Inc. (ABI) smelter in Québec, Canada has presented a final offer to the United Steelworkers for a new labor contract. The smelter, which is owned by Alcoa (74.95%) and Rio Tinto Alcan Inc. (25.05%), has been operating at reduced capacity since January 11, 2018, after union members rejected a proposed labor contract for hourly employees.
In the daily bar chart of AA, below, we can see that prices have been cut down from around $46 back in July to below $22 earlier this month. The On-Balance-Volume (OBV) line has done strange things the past twelve months. The OBV line was very steady when prices declined from July to late December.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that it has amended its joint venture with the Saudi Arabian Mining Company (Ma’aden) in which Alcoa holds a minority, 25.1 percent stake.
Premiums for Japanese aluminium shipments for July to September were set at $108 per tonne, up 3% from the current quarter, as tighter supply in Asia outweighed fears over weakening demand, five sources directly involved in the pricing talks said. Japan is Asia's biggest importer of aluminium and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region. Spot premiums in Asia have risen due to fewer shipments of semi-fabricated metal from China to other Asian countries due to stronger aluminium prices on the Shanghai Futures Exchange (ShFE), the source said.
It would be fair to say that the Section 232 exemptions were an enabler in Mexico ratifying the USMCA. The Trump administration has also tried to put some safeguards in place so that imports from Canada and Mexico don’t surge after the exemption. While these measures look positive, steel imports from Canada and Mexico could still rise.
Does Alcoa's Risk-Return Profile Look Favorable Now?AlcoaLeading US-based aluminum producer Alcoa (AA) has seen a selling spree this year, losing 18.5% of its market cap.Alcoa isn’t the only metals and mining stock to underperform the broader
Billionaire hedge fund managers such as David Abrams, Steve Cohen and Stan Druckenmiller can generate millions or even billions of dollars every year by pinning down high-potential small-cap stocks and pouring cash into these candidates. Small-cap stocks are overlooked by most investors, brokerage houses, and financial services hubs, while the unlimited research abilities of the […]
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Although Alcoa Corp (NYSE: AA ) stands to benefit from the rally in alumina prices due to recent outages at two Chinese refineries, the impact is unlikely to last beyond the next few months — and the prospect of ...